DETERMINING THE RELATIONSHIP BETWEEN THE FAMILY INFLUENCE, THE MARKETING ORIENTATION, THE MANAGERIAL DECISIONS AND THE BUSINESS & FAMILY PERFORMANCES IN FAMILY BUSINESSES WITH THE HELP OF THE STRUCTURAL EQUATION MODELLING

Abstract

Family businesses have a considerably important place in our economy as well as in the world. Considering their contribution to the economy, it would be reasonable to solve family businesses? problems and to help them to perform their activities efficiently and productively. In order to support them to achieve a corporate structure and a sustainable success, it?s very important to use governance systems. Family businesses, which are not able to fall into step with the environmental changes at some transformation points, are facing the risk of failing. Starting from this point, family influence, marketing orientation, and managerial decisions including strategic process, board of directors, human resources and succession, on the business and family performances in the course of resolving the difficulties that family businesses encounter have been analysed using the Structural Equation Modelling (SEM) and the relationships have been determined; some suggestions have been brought forward for sustainable corporate estate according to the results of the survey with 244 family businesses.